Windhoek: Deep Yellow Namibia has awarded two civil and concrete construction contracts worth a combined N$392.6 million, entirely to Namibian-owned contractors, for its flagship Tumas Uranium Project in the Erongo region, Managing Director Zebra Kasete has said.
According to Namibia Press Agency, Kasete presented the milestone recently at the Namibia Mining Expo and Conference which took place at the Windhoek Showgrounds from 04 to 06 August. The contracts, worth approximately AU$34 million in total, were awarded to Namibia Construction Pty Ltd, valued at N$213 million, and Nexus Building and Civils Contractors Pty Ltd, valued at N$179.6 million.
Kasete said mobilisation begins in August 2026 ahead of the project's Final Investment Decision, targeted for the fourth quarter of 2026. Tumas holds Mining Licence ML237 in the Erongo uranium region and is designed for a mine life of more than 30 years, with planned production capacity of approximately 3.6 million pounds of triuranium octoxide a year.
Deep Yellow holds project ownership, with local empowerment partner Oponona Investments holding the right to acquire a 5% equity interest following the Final Investment Decision. 'The newly awarded contracts have generated approximately 500 construction jobs immediately, with an explicit focus on recruiting and advancing women into technical, engineering and leadership roles. Approximately 600 permanent jobs are expected once the mine reaches its operational phase,' he boasted.
He noted that the company estimates potential direct foreign capital investment of US$474 million, approximately N$ 8.5 billion, upon reaching the Final Investment Decision, generating state revenue through corporate income tax, a 3% royalty and direct export levies over more than 30 years, while stimulating growth across Swakopmund and Walvis Bay in housing, logistics, accommodation and community services.
Kasete added that Namibia remains one of the world's leading uranium producers but currently exports most output as raw uranium oxide, saying that establishing domestic processing and conversion capabilities could capture downstream value and strengthen Namibia's position in the global nuclear fuel supply chain. He said local Namibian vendors and service providers are encouraged to pre-register on the Deep Yellow Namibian Procurement Portal for upcoming tender packages.